#ILoveBitcoin

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Bitcoin has useful properties to make it a good store of value. It has been described as a "swiss bank account in your pocket". (1)Cannot be debased:

Limited to 21 million coins only. (2)No storage cost:

Bitcoins take up no physical space, any amount can be stored. (3)Easy to hide:

Can be stored encrypted on a paper, on disk, or even memorized in your brain.Can be made anonymous, meaning nobody would even know you own bitcoins or how many. (4)Easy to protect:

Can be made impossible to steal or seize by any thief, government or bank.Censorship resistant. The coins can be sent anywhere in the world through the internet without being blocked. (5)No counterparty risk:

Coins are in your possession, if you keep the private key of a bitcoin secret and the transaction has enough confirmations, then nobody can take them from you no matter for what reason, no matter how good the excuse, no matter what.

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‘Backpage’ Used Bitcoin For Laundering: DOJ

The classified sex-advertising website Backpage.com used exchanges to launder millions of dollars in bitcoin. That’s what the U.S. Department of Justice alleged in a bombshell 93-page federal indictment which accused the online sex marketplace of money-laundering, conspiracy, and facilitating prostitution.

The Department of Justice shut down the website last week amid findings that it promoted underage prostitution and trafficking since its launch in 2004. Moreover, the site laundered tens of millions of dollars using cryptocurrency, the DOJ said. “[Illegal prostitution ads] have enabled Backpage to earn over $500 million in prostitution-related revenue since its inception,” the indictment read. “Virtually every dollar flowing into Backpage’s coffers represents the proceeds of illegal activity.” Coinbase Customer
The Justice Department continued: “Backpage also furthered its money-laundering through the use of bitcoin processing companies. Over time, Backpage utilized companies such as Coinbase, GoCoin, Paxful, Kraken and Crypto Capital to receive payments from customers and/or route money through the accounts of third parties.” Named as defendants were Backpage co-founders Michael Lacey and Jim Larkin and five of their associates. Backpage has a sprawling international operation that ran sex-marketing sites in 97 countries, according to a recent U.S. Senate report.
FBI shut down backpage
In 2015, payment processors Visa, American Express, and Mastercard stopped processing transactions on the site, citing “moral, social, and legal reasons.” That’s when bitcoin use became popular on the site. In fact, the use of bitcoin surged so much that it fueled a movement among sex workers called “The Backpage Effect.”
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How the Bitcoin Story Started

Jan. 3, 2009: Satoshi Nakamoto launches the Bitcoin network by creating the "genesis block," the first entry in Bitcoin's global transaction register. It includes the following text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." Jan. 9: Nakamoto announces Bitcoin version 0.1, on the Cypherpunks mailing list. Previously, in November 2008, he posted a paper to the list that explained the design of the Bitcoin network.

Jan. 11: Some people immediately recognize that if Bitcoin catches on, its early users will get rich. Hal Finney estimates that if Bitcoin became the world's reserve currency, each Bitcoin could be worth as much as $10 million. "The possibility of generating coins today with a few cents of compute time may be quite a good bet," he says. Nakamoto agrees: "It might make sense just to get some in case it catches on." Finney mines bitcoins for a few days, but then he turns the program off because it makes his computer run too hot.

Jan. 12: The first Bitcoin transaction occurs, as Nakamoto sends some Bitcoins to Finney.

Aug. 15: Bitcoin is slowly attracting users. Tyler Gillies sends a note to the bitcoin-list e-mail list. "i just downloaded bitcoin, epic piece of software. the digital cash age has arrived." It was the only post to the mailing list that month.

Dec. 30: Growing interest in Bitcoin leads to the first increase in the difficulty of bitcoin-mining. The network automatically adjusts the difficulty of producing bitcoins so that a new batch is produced every 10 minutes, on average. By Dec. 30, 2009, there were enough miners that the network had to increase the difficulty to prevent bitcoins from being generated too quickly.
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🔥 AMAZON & BITCOIN INTEGRATION🔥
Amazon has won a patent for a streaming data marketplace that could allow subscribers to receive real-time cryptocurrency transaction data.

The patent describes a system in which individuals and organizations can put streaming data feeds up for sale, to which customers can then subscribe. It was granted to Amazon Technologies, a subsidiary of the e-commerce and cloud computing giant, on Tuesday.

Adding on to that base, the filing says, developers could “build real-time dashboards, capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions.”

Amazon’s filing lists a number of potential use cases for the marketplace, including “web site click-streams, marketing and financial information, manufacturing instrumentation and social media, operational logs, metering data and so forth” – yet it includes one notable use case focused on the cryptocurrency market.

It argues that individual data streams may not be so valuable on their own, using bitcoin and cryptocurrency transaction data as an example. Yet by combining this data with information from additional sources, “the data stream may become more valuable.”

The patent states:

“For example, a group of electronic or internet retailers who accept bitcoin transactions may have a shipping address that may correlate with the bitcoin

What are your thoughts? 🤔 There was speak about Amazon accepting crypto currency back in early February as well 🧐
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🔥 AMAZON & BITCOIN INTEGRATION🔥
Amazon has won a patent for a streaming data marketplace that could allow subscribers to receive real-time cryptocurrency transaction data.

The patent describes a system in which individuals and organizations can put streaming data feeds up for sale, to which customers can then subscribe. It was granted to Amazon Technologies, a subsidiary of the e-commerce and cloud computing giant, on Tuesday.

Adding on to that base, the filing says, developers could “build real-time dashboards, capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions.”

Amazon’s filing lists a number of potential use cases for the marketplace, including “web site click-streams, marketing and financial information, manufacturing instrumentation and social media, operational logs, metering data and so forth” – yet it includes one notable use case focused on the cryptocurrency market.

It argues that individual data streams may not be so valuable on their own, using bitcoin and cryptocurrency transaction data as an example. Yet by combining this data with information from additional sources, “the data stream may become more valuable.”

The patent states:

“For example, a group of electronic or internet retailers who accept bitcoin transactions may have a shipping address that may correlate with the bitcoin

What are your thoughts? 🤔 There was speak about Amazon accepting crypto currency back in early February as well 🧐
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Sometimes you just gotta take a break. What do you do when you're not #trading any #altcoins? 🎮 #BTC #Tshirt by 🔥

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Trading Opens On Crypto Exchange Giant Huobi In South Korea 👇🏾👇🏾👇🏾
To read the full article go to our website : cointelegraph.com
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Co-Founder Of Ripple, Stellar: Blockchain Needs To Be Decentralized To Be Successful 🌇🌇🌇
To read the full article go to our website : cointelegraph.com
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Bitcoin Loses $9k Support After Binance Confusion Shakes Confidence 💰📈📊
To read the full article go to our website : cointelegraph.com
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Tim Draper on Bitcoin price:
“I’m thinking $250,000 a bitcoin by 2022… Believe it, it’s going to happen; they’re going to think you’re crazy but believe it, it’s happening, it’s going to be awesome!”
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Satoshi Shrine 🙏💰
Click bio link to enter our #giveaway!
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Facebook, Google and Twitter Ban Ads, But Do Their Founders Really Dislike Crypto?
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To read the full article go to our website : cointelegraph.com
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